FROM EIR DAILY ALERT

EU Emissions Lunacy Threatens 100,000 German Jobs at Volkswagen

Oct. 11, 2018 (EIRNS)—Volkswagen Chief Executive Herbert Diess warns that the decision just taken by EU environment ministers to reduce CO2 emissions by 35% by 2030 will lead to massive layoffs in Germany. Speaking to the Süddeutsche Zeitung, Diess said that “the change with such rapidity and its consequences are barely manageable.” It will force a reduction of one-fourth of the VW labor force in 10 years, or some 100,000 jobs. “Such an industry can crash quicker than many want to believe,” said the head of what is far and away Europe’s largest manufacturing company.

Both German Environment Minister Svenja Schulze (SPD) and Chancellor Angela Merkel defended the EU agreement. The SPD wants to go even further: A paper by the SPD Bundestag faction calls for a 40% reduction by 2030, according to the Munich-based daily.